Companies may store a variety of types of information related to consumer or customer behavior. In some instances, a company uses this information to promote their services.
The development of communication network technologies enable companies to accumulate more information about potential customers. Given that a consumer performs numerous traceable network interactions over different networks, the amount of information that is accumulated about that particular consumer can be substantial. By analyzing this information, companies can identify potential clients and offer products that meet customer needs. However, the analysis of traceable network interactions may present many challenges due to the large amounts of data and high number of customers.
For the foregoing reasons, there is a need for a system and method that efficiently predicts consumer behavior for assessing insurance needs.